Invesco Ltd. Raises Holdings in Palantir Technologies Inc. $PLTR

by · The Cerbat Gem

Invesco Ltd. grew its position in Palantir Technologies Inc. (NASDAQ:PLTR – Free Report) by 16.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,585,256 shares of the company’s stock after buying an additional 2,838,300 shares during the period. Palantir Technologies accounts for about 0.5% of Invesco Ltd.’s portfolio, making the stock its 20th largest position. Invesco Ltd.’s holdings in Palantir Technologies were worth $2,806,182,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Signature Resources Capital Management LLC purchased a new position in Palantir Technologies during the 2nd quarter worth approximately $25,000. Briaud Financial Planning Inc acquired a new position in shares of Palantir Technologies during the 2nd quarter valued at about $27,000. LFA Lugano Financial Advisors SA purchased a new stake in shares of Palantir Technologies in the second quarter valued at about $27,000. Frazier Financial Advisors LLC acquired a new stake in Palantir Technologies during the second quarter worth about $28,000. Finally, MTM Investment Management LLC purchased a new position in Palantir Technologies during the second quarter worth about $31,000. Institutional investors own 45.65% of the company’s stock.

Analysts Set New Price Targets

PLTR has been the topic of several analyst reports. Cantor Fitzgerald lifted their price target on shares of Palantir Technologies from $155.00 to $198.00 and gave the company a “neutral” rating in a research report on Tuesday, November 4th. Deutsche Bank Aktiengesellschaft lifted their target price on Palantir Technologies from $160.00 to $200.00 and gave the company a “hold” rating in a research report on Tuesday, November 4th. Piper Sandler boosted their price objective on shares of Palantir Technologies from $201.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, November 4th. UBS Group upped their target price on shares of Palantir Technologies from $165.00 to $205.00 and gave the company a “neutral” rating in a research report on Tuesday, November 4th. Finally, Morgan Stanley boosted their price target on shares of Palantir Technologies from $155.00 to $205.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 4th. Four investment analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $172.28.

View Our Latest Report on Palantir Technologies

Palantir Technologies Trading Up 1.9%

Shares of NASDAQ PLTR opened at $170.69 on Wednesday. The stock has a market cap of $406.83 billion, a P/E ratio of 406.41, a P/E/G ratio of 6.49 and a beta of 1.49. Palantir Technologies Inc. has a twelve month low of $63.40 and a twelve month high of $207.52. The stock has a 50 day moving average of $179.00 and a two-hundred day moving average of $160.59.

Palantir Technologies (NASDAQ:PLTR – Get Free Report) last posted its quarterly earnings data on Monday, November 3rd. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Palantir Technologies had a return on equity of 15.48% and a net margin of 28.11%.The firm’s revenue for the quarter was up 62.8% on a year-over-year basis. During the same period last year, the firm earned $0.10 EPS. As a group, research analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Shyam Sankar sold 19,004 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $156.25, for a total value of $2,969,375.00. Following the completion of the sale, the insider directly owned 642,786 shares of the company’s stock, valued at $100,435,312.50. This trade represents a 2.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephen Andrew Cohen sold 39,136 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $156.25, for a total transaction of $6,115,000.00. Following the completion of the transaction, the insider owned 592 shares of the company’s stock, valued at $92,500. This represents a 98.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 1,065,892 shares of company stock worth $173,869,312. 12.93% of the stock is currently owned by insiders.

About Palantir Technologies

(Free Report)

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.

See Also

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